By Anand Sinha

As the Securities and Exchange Commission’s (SEC) 75-day review window expires, the crypto exchange-traded funds (ETFs) introduced jointly by REX and Osprey can begin trading on Sep. 12.

Bloomberg analyst Eric Balchunas said the funds have been filed under the Investment Company Act of 1940 which "doesn’t directly invest fully in spot." It means as long as the SEC doesn’t object during the review period, "you can let it launch 75 days after filing,” he told Cointelegraph.

The package expected to debut tomorrow includes REX-Osprey ETFs tied to Bitcoin, XRP, Dogecoin, Bonk, and Trump.

Jackson Palmer, co-founder of Dogecoin, speaks during a Bloomberg Technology television interview in San Francisco, California, U.S., on Monday, Jan. 22, 2018. Dogecoin started as a joke, based on grammatically-challenged shiba inu memes, poking fun at the rise of cryptocurrencies in 2013. But in 2018 that joke turned into a serious $2 billion market cap as investors didn't care.

While the first two are among the three largest cryptocurrencies, the rest of them are meme coins that have found popularity within the crypto community.

Earlier, Balchunas had said the REX-Osprey DOGE ETF (DOJE) is slated for a launch on Thursday, Sep. 11. "Pretty sure this is first-ever US ETF to hold something that has no utility on purpose," he remarked.

As the fans of the meme coin objected over the "no utility" comment, Balchunas responded,

"But the coin was literally started by two guys as a joke. So what’s the utility?"

When a user said sports also have no utility other than community and entertainment but are still lucrative, the analyst said he agreed and wasn't judging the asset, but people should own the fact that meme coins are for "fun and speculation."

Nonetheless, Dogecoin's price has risen around 2.29% over the last 24 hours, and it was trading at $0.2491 at the time of writing, as per Kraken's price feed.

Meanwhile, XRP has fallen 0.13% in 24 hours to $2.99.

More News:

• Crypto analyst warns XRP ETF will mark ‘beginning of the end'

• Dogecoin founder just had a bizarre dream about MrBeast

92 crypto ETF applications ahead

Bloomberg analyst James Seyffart shared that 92 filings or applications related to crypto ETFs are in the queue, waiting to get launched in the U.S.

Market researcher James McKay said he expected an ETF tied to all the top 30-40 cryptocurrencies within 12 months even with delays.

Source article: Thestreet